Premier Oil upbeat on flagship N Sea field Catcher

North Sea producer Premier Oil gave a positive update on progress at its flagship North Sea development, the Catcher field, 174 km off the coast of Aberdeen.

“First oil from the Catcher Area development was successfully delivered on 23 December,” said Premier.

“The first two production wells from the Catcher field have been cleaned up and tested at rates in excess of 20 kbopd each, in-line with expectations and reflecting initial high productivity …

“The first export cargo of Catcher oil is expected to be lifted in late January and has been sold at a premium to Brent.

“Full production from the Catcher Area of 60 kbopd is targeted in the first half of 2018.”

Premier Oil CEO Tony Durrant said: “First oil from Catcher and the completion of the Wytch Farm disposal completed a highly successful year for Premier which included our world class exploration success with the Zama discovery.

“As Catcher builds up to 60,000 bopd, 2018 will bring higher production and cashflow, continuing the debt reduction programme.

“Alongside this, our portfolio of future projects is being progressed for selective investment and further growth.”